The Queen has discussed issues arising from this week's media coverage with the Earl and Countess of Wessex.

Her Majesty accepts that despite the difficulties of recent days, both the earl and countess understandably want to try to pursue working careers and they have her full support in doing so.

It is not an easy option and they are breaking new ground, but it is right in this day and age that they should be allowed to do so.

In following careers they are always open to accusations of exploiting their royal status in pursuit of their own business interests. Both the earl and countess vigorously deny that they have deliberately set out to do so.

The Queen deplores the entrapment, subterfuge, innuendo and untruths to which [they] have been subjected in recent days.

The Queen recognises that there are and always have been real issues around ensuring and being seen to ensure that royal and business interests do not conflict where members of the royal family pursue their own careers.

Ways to address and avoid such potential conflicts of interest need to be recognised... and this will be done over the coming weeks.

"Whilst this is undertaken, the Countess of Wessex has suggested, and the Queen has agreed, that [she] should step aside as chairman of RJH, as the issues facing the company are considered."

The statement from the Countess of Wessex:

This has been a difficult time for me. I take very seriously the issues raised, and, naturally, regret any embarrassment above all to the Queen.

I am grateful for Her Majesty's support both on a personal level and for my being able to pursue a career.

I believe my overriding duty is to support the Queen and the monarchy.

I realise fully that I am in a privileged position, and I am conscious that my conduct must be above reproach.

I am deeply distressed by the carrying out of an entrapment operation on me and my business but I also much regret my own misjudgment in succumbing to that subterfuge.

I have discussed the situation with the Queen and I have decided to step aside as chairman of RJH while the issues raised by recent events are carefully considered.

In view of this experience I need a period of time to reassess my own role.

Over the past few days I have taken great comfort from the friendship and support of my colleagues at RJH and of our clients.

I feel an obligation to them, and I believe a way can be found for RJH to continue as a successful company.

Over the next few weeks the business will be restructured in order to allow this to happen.